In a recent transaction on June 21, Matthew Fredrick Branstetter, the Senior Vice President and Chief Operating Officer of United Bancorp Inc. (NASDAQ:UBCP), purchased shares of the company's common stock, signaling confidence in the bank's future prospects. Branstetter acquired 588 shares at a price of $12.33 per share, amounting to a total investment of $7,250.
This latest acquisition by a key executive is part of the ongoing financial activities within United Bancorp, a state commercial bank headquartered in Ohio. With this purchase, Branstetter's ownership in the company has increased to 46,259 shares of common stock.
Investors often monitor insider transactions as they can provide insights into the executives' views on the company's valuation and future performance. The details of these transactions are publicly disclosed to ensure transparency and to provide valuable information to the market.
United Bancorp, recognized by its trading symbol UBCP, has not released any official statement regarding the transaction. However, the filing with the Securities and Exchange Commission confirms the transaction details and the increased stake of the executive in the company.
The financial community typically keeps a close watch on insider buying and selling, as these transactions can be indicative of the company's health and management's expectations. In the case of United Bancorp, the recent purchase by COO Matthew Branstetter may be interpreted as a positive sign by investors and market analysts.
In other recent news, United Bancorp has reported an increase in its quarterly dividend to $0.175 per share, marking a 6.1% rise from the same quarter of the previous year. This boost contributes to a total cash dividend of $0.4975 per share paid in the first half of the current year, inclusive of a special dividend of $0.15 in the first quarter. The regular cash dividend now yields 4.84% based on United Bancorp's quarter-end market value of $14.47.
In further developments, the company's Board of Directors was re-elected at the annual meeting. The board consists of Scott A. Everson, the current President and CEO; Gary W. Glessner, CPA; Brian M. Hendershot; John M. Hoopingarner; Richard L. Riesbeck, who also serves as the Chairman of the UBCP Board; and Bethany E. Schunn.
United Bancorp, operating through its subsidiary Unified Bank, disclosed total assets of $819.4 million and total shareholder's equity of $63.6 million as of December 31, 2023. The bank operates eighteen offices across several Ohio counties and extends into Marshall County in West Virginia. These are among the recent developments for the company.
InvestingPro Insights
In light of the recent insider purchase by Matthew Fredrick Branstetter, Senior Vice President and Chief Operating Officer of United Bancorp Inc. (NASDAQ:UBCP), investors may find additional context through the lens of InvestingPro data and tips. Notably, United Bancorp's market capitalization stands at $77.4 million, with a P/E ratio of 8.23, reflecting the company's valuation relative to its earnings. Adjusted for the last twelve months as of Q1 2024, the P/E ratio is slightly lower at 8.17, indicating a stable valuation over the recent period.
The dividend yield is particularly robust at 8.58%, a significant return for income-focused investors. This aligns with one of the InvestingPro Tips that highlights United Bancorp's impressive track record of maintaining dividend payments for 32 consecutive years. Additionally, the company has managed to raise its dividend for the past 4 consecutive years, demonstrating a commitment to returning value to shareholders even amidst market fluctuations.
While United Bancorp's revenue growth for the last twelve months shows a marginal increase of 0.06%, the quarterly figure indicates a decline of -6.16%. This may corroborate the InvestingPro Tip suggesting that analysts anticipate a sales decline in the current year. Despite this, the company has been profitable over the last twelve months, and analysts predict profitability will continue this year.
For investors seeking a deeper dive into United Bancorp's financials and future outlook, InvestingPro offers additional tips that can shed light on the company's performance and market position. There are 10 additional InvestingPro Tips available, which can be accessed at https://www.investing.com/pro/UBCP. To enhance your investing strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.